Jul 2, 2011 6:00pm PDT
're not producing that much more as far as gdp output. so the big issue going forward facing the united states is not only that we're similar in terms of our numbers but the bigger issue is we're interconnected. united states is a much bigger player on the world stage than greece. >> mitchell: in the middle of this kay chaos how do you explain it. >> putting these issues on the back burner and inon said it focused on manufacturing, a huge driver of growth and this week we got some strong data on it. >> mitchell: rebecca jarvis. thanks very much. it's rough being a teenager looking for a job. the numbers show 24% of 16-19 year olds are unemployed. their main competition, older workers who at these times are after the same jobs. we take a look at what's happening to all those teens who want to find work. >> reporter: 17 year old alex rodriguez thrives on competition. but not the type he's seeing in the job market. >> it applies to every store. i've called them, i've had my mom call them. i've had my teachers here have been helping me. >> reporter: does it get disheartening to keep searching.
Jul 9, 2011 6:00pm PDT
of the american workforces now taking a big hit. as we told you yesterday, the unemployment rate for june rose to 9.2%. that's the highest this year. there is also news that among the ranks of government employees of all levels 39,000 jobs were lost in june. elaine quijano on the status of public workers and what that could mean for everyone. >> reporter: when emergency calls come in, it's hard for matthew bennett to sit still. >> i've got got to sit on the sidelines, like the basketball player who has a bad knee. wants to play but can't play. >> reporter: for nearly five years, he worked as a firefighter in camden, new jersey. in january he was one of 60 to be laid-off. one-third of the department. >> i don't know what i'm going to do. i'm 36, i've got a high school education, i thought i had a career and now i don't. >> reporter: public sector jobs like his were along considered one of the most secure in hard times but that's changing. since september of 2008, 464,000 local government jobs have been eliminated. nearly 100,000 of those cuts have happened this year alone. larry burns is more.
Jul 23, 2011 6:00pm PDT
, in meetings. >> the sellers ultimately are quieting $70 million. >> reporter: and big-money negotiations. his bosses are big fans. >> he's so good that i find it very difficult to get him to work for some of my assignments because he's so much in demand. >> mitchell: exactly what you'd expect, accep except-- tha whole other david kelly. long before he was david kelly esquire, he was capital-d., m.c. rap is your night job. >> right. >> mitchell: lawyer, rapper. >> right. >> mitchell: it doesn't add up, right, most people are going to tell that you? >> right ♪ all i want is all i need is all i am because it's all in me ♪ . >> mitchell: he's made 8 albums. his latest "polymath" came out late last year to critical acclaim but little fan fair. music critic greg kot just can't understand. >> i think he's incredibly underrated. as they say in the hip-hop world he's been slapped up. people do not know this guy exists and it's a crime. >> no gimmick, no look no image, no hook. >> mitchell: he sees the similarities, not the differences, in law and music. >> my love for hip-hop is because i love to
Jul 30, 2011 6:00pm PDT
. >> mitchell: what happens if the big guys, standard & poors, follow your lead? >> the normal reaction is there is a slight increase in funding costs. now under any scenario, the u.s. government is very strong, and so you don't have to worry about the overall credit quality, but it's just a slight weakening, and that is what the market is looking at right now and that's why we took the action. >> mitchell: okay, sean eganef eagen jones we thank you so much for your insight. >> thank you. >> mitchell: here is what else is happening tonight. tropical storm don limped into texas last night, failing to deliver the amount of rain which the drought-stricken area had wanted. searing triple-digit temperatures are predicted for much of texas and oklahoma over the next five days. karen brown tells us what that means for the region's struggling cattle ranchers. >> reporter: the debilitating drought has ranchers dumping cattle in record numbers. at dublin livestock auction, they sold 3800 head in one day, more than double the usual amounts. >> it's my livelihood, and it's being taken away from me